SOME SALIENT ISSUES RAISED BY THE GLOBAL FINANCIAL CRISIS

Kyung Soo Kim and Hyoung-kyu Chey

Pacific Economic Review, 2010, vol. 15, issue 1, 1-10

Abstract: The recent global financial crisis has raised a number of important issues. This paper discusses five specific issues: first, macroprudential regulation, an issue related to the cause of the crisis; second, management of economic openness, an issue especially relevant for emerging market economies; third, diverse measures for coping with instability due to capital outflows, for example self‐protection through foreign exchange reserve accumulation as well as international and regional cooperation; fourth, the future of the international monetary system, in particular the dollar‐centred system; and fifth, the implications of the crisis for the economics profession.

Date: 2010
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https://doi.org/10.1111/j.1468-0106.2009.00485.x

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